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Real Estate Market Trends

What difference did the third digit make in pricing this past year?

For Flathead County homes sold this past year, at prices between $100,000 and $750,000, the vast majority had “9” in their original list price third digit (the “9” in $349,000), while “5” and “0” were also popular; “1” was used the least (i.e. $341,000). Does it make a difference what digit the seller selects in that position? History suggests it does, both in terms of how long it takes to sell and for how much of the original list price.

Original list prices with a “6”, “2” or “1” in the third (thousands) digit went under contract fastest (blue bars): 11 days, 18 days and 20 days, respectively. Original list prices with a “7” in the third (thousands) digit moved the slowest (78 days). See chart for all digits’ statistics.

Original list prices with a “2”, “1” or “6” in the third digit also sold for more of their original list price than other numbers (orange line). Original list prices with a “5” or “7” in the third digit sold for the lowest percentage of original
list price.

Richard Dews is CEO of Glacier Flathead Real Estate, a Flathead-based real estate software and services company.